Lotte Plans to Launch 4 Large Projects in Vietnam

Lotte plans to invest in Vietnam by implementing a lot of projects such as construct plant, mall and urban project.

On March 8th, Vietnam Prime Minister Nguyen Xuan Phuc has met Mr Hwang Kag Gyu, Deputy Chairman of Lotte Group.

At the meeting, Deputy Chairman of Lotte Group said that Lotte plans to implement a cocoa planting project in Vietnam for export to Korea; building an EP plant in Dong Nai province to supply for Samsung Vietnam; construction of the Thu Thiem Smart City project in Ho Chi Minh City and the Lotte Mall in Hanoi.

In 2017, Lotte has also begun to develop e-commerce in Vietnam.

According to Mr Hwang Kag Gyu, in the investment process, Lotte will apply new, modern and environmentally friendly technologies and will continue to strongly support startup projects in Vietnam.

While welcoming Lotte’s plans to invest in business expansion and new projects in Vietnam, Prime Minister Nguyen Xuan Phuc highly appreciated the success of Lotte’s projects in many major cities in Vietnam and delighted to see Lotte putting great trust in the Vietnamese market.

The Prime Minister suggested Lotte support Vietnam to sell vegetable and fruit products imported into the Korean market because Vietnam is a country with high agricultural production capacity, but the market is still limited. In addition, the Prime Minister also expects Lotte, with its large-scale retail and service chains in many provinces and cities, will support Vietnam in the production of plastic, chocolate and other industrial products that Vietnam has the strength to serve export.

Regarding Lotte’s investment in Research and Development Institutes in Vietnam, the Prime Minister requested Lotte to assist Vietnam in producing new technology products in the context of the industrial revolution 4.0; creating more products in many new fields in Vietnam.

The Prime Minister affirmed that the Government of Vietnam pledged to create favorable conditions for Lotte to invest in long-term, sustainable development in Vietnam.

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